The state's roughly 15 health-insurance companies submit their requested increases to the Department of Financial Services each year. Then the agency usually approves lower increases for each insurer.

The same happened this year. Late Friday, the Department of Financial Services said it reduced insurers’ average increases from 9.2% to 6.8%, saving consumers over $50 million.

For small-group plans, the rates were dropped from 12.2% to 7.9% for 2020, saving small businesses over $313 million.

“Consumer protection is our number one job, and New York has been a national leader in ensuring that quality, affordable health care is available to everyone in the state,” said Linda Lacewell, the superintendent for the Department of Financial Services.

The rate increases for 2020 include a 6.3% increase for the Rochester-based Excellus and 6.8% for MVP, based in Schenectady.

The largest increase was 15% approved for UnitedHealthcare of New York.

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As part of the federal Affordable Care Act, New York started its own health exchange, and more than 4.7 million people get their health insurance through the exchange, called the NY State of Health.

The health exchange has cut the number of residents who didn't have insurance from 10% to under 5% since 2014, and the agency claims premiums are about half of what they were before the Affordable Care Act, known as Obamacare.

The rate increases for 2020 have an impact on the cost of health care through the NY State of Health, but Lacewell said federal tax subsidies available through the exchange for poorer New Yorkers will limit the new hikes.

About half of the enrollees on the exchange can get tax breaks to offset the costs, according to the Department of Financial Services.

The agency said medical costs are the main driver for the increase, as has been the case in recent years.

Drug costs accounted for the largest share of medical expenses, followed by inpatient and outpatient hospital costs, the agency said.

The rate increases do not impact the Essential Plan, a low-cost plan on the health exchange available to some low-income New Yorkers that has about 790,000 enrollees.

The largest component of health insurance premiums is the cost of care, said Eric Linzer, president of the New York Health Plan Association, which represents insurers.

"The primary driver of New York’s high health care spending is the growing prices charged for medical care and prescription drugs," he said in a statement.

“Every New Yorker deserves affordable coverage choices that provides them with access to high-quality care."